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Antique Stock Broking maintains buy on Hindustan Zinc, target price Rs 241

The analyst suggested a stoploss at Rs $stopLossL

ETMarkets.com|
Updated: Dec 05, 2019, 08.42 AM IST
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Antique Stock Broking has maintained buy rating on Hindustan Zinc in the long term with a target price of Rs 241. The stock ended up 0.3% at Rs 211.55 on Wednesday while the BSE Sensex closed 174.84 points up at 40,850.29.

Company Financials

For the quarter ended 30-09-2019, the company has reported a standalone sales of Rs 4461.00 crore, down -9.40 % from last quarter sales of Rs 4924.00 crore and down -6.62 % from last year same quarter sales of Rs 4777.00 crore. The company has reported net profit after tax of Rs 2081.00 crore in the latest quarter.

The company’s top management includes Mr.A R Narayanaswamy, Mr.Arun L Todarwal, Mr.Navin Agarwal, Mr.Sunil Duggal, Ms.Farida M Naik, Ms.Kiran Agarwal, Ms.Reena Sinha Puri. Company has S R Batliboi & Co. LLP as its auditors. As on 30-09-2019, the company has a total of 4,225,319,000 shares outstanding.

Investment Rationale

Hindustan Zinc remains on track for achieving 1.2 million tonnes per annum mined metal capacity in financial year 2019-20 (April-March) with plans to further expand capacity to 1.35 mtpa, said Antique. Higher silver prices, lower coal costs and recovery in metal volumes would support earnings, the brokerage said.
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